Elan and Rapid lead the way to positive close

Shares on the Dublin exchange rose by 1.06 per cent yesterday finishing at 4,964.65 after a quiet session on what was the last full day's trading of the year. Among the biggest movers was drug company Elan which gained €1.40 to finish at €28 (£22.05). This followed news that the company had submitted a new drug application to the US Food and Drug Administration for ziconotide, a potential treatment for chronic pain.

In financials, Bank of Ireland added 10 cents to finish at €7.90 (£6.22). AIB added three cents to end the day at €11.28 (£8.88), though the stock hit €11.40 at one point. In contrast, Irish Life & Permanent was 10 cents easier, finishing at €9.35 (£7.36). Among the smaller stocks, Rapid Technology continued its rise, climbing by 90 cents to €2.95 (£2.32). Rapid's value has trebled in recent weeks following news that it is hoping to finalise a procurement deal in co-operation with US giant IBM for a product used at store checkouts. CRH was among the strongest performers of the industrial stocks, increasing by 51 cents on the day to close at €21.51 (£16.94). Newly listed Horizon also rose, finishing 20 cents up at €3.90 (£3.07). Eircom lost six cents on the day, closing at €4.12 (£3.24). Smurfit, which completed its £18 million sterling acquisition of British firm Norcor Holdings just before the Christmas break, finished a cent stronger at €2.95 (£2.32).